A RAILROAD 


FOR  SALE  OR  LEASE. 


The  undersigned,  Trustees  of  the  mortgage  bond  and 
coupon  holders  of  the  Portland  and  Oxford  Central  Railroad 
Company,  a corporation  existing  under  the  laws  of  the  State 
of  Maine,  by  virtue  of  the  powers  vested  in  us,  offer  for 
sale,  or  lease  on  a term  of  years,  the  franchise  and  property 
of  the  above  named  Railroad  Company,  to  responsible  par- 
ties within  or  without  the  State,  who  may  be  desirous  of 
operating  the  same. 

The  road  is  27i  miles  long  on  the  main  track,  extending 
from  a point  of  junction  with  the  Grand  Trunk  Railroad,  at 
Mechanic  Falls,  distance  from  the  city  of  Portland,  37  miles, 
through  the  towns  of  West  Minot,  Hebron,  Buckfield, 
Sumner,  Hartford  and  Canton  Village. 

S All  these  towns  are  largely  supplied  with  wood  and  timber 
j of  almost  every  variety,  for  the  manufacture  of  agricultural 
implements,  building  materials,  boards,  plank,  staves,  hoop- 
poles,  household  furniture,  carriages,  ship-knees,  piling,  &c., 
* &c.  At  the  present  terminus  of  the  road  in  Canton,  is  a 
water  power,  capable,  at  small  expense,  of  being  tripled  in 
power,  upon  which  is  already  a saw  mill,  grist  mill,  tannery, 
furniture  factory  and  carriage  factory.  In  immediate  vicin- 
i ity  is  a stationary  steam  engine  of  large  capacity,  and  factory 
for  staves  and  other  wood  work.  The  village  is  well  sup- 
plied with  grocery,  clothing,  drug  and  grain  stores,  and  a 


II 


large  cheese  factory,  hotels  and  churches.  The  site  of  the 
village  is  beautiful  in  landscape,  healthy,  and  has  many  very 
desirable  residences,  and  is  flanked  by  the  industries  of 
Dixfield,  Rumford  and  Peru,  all  thriving  localities.  At 
Rumford  the  Androscoggin  River  courses  down  a fall  of  17 5 
feet  in  descent,  along  a distance  of  three-fourths  of  a mile, 
furnishing  the  best  water  power  in  New  England,  and  it  is 
destined  to  become  the  seat  of  a cordon  of  factories  une- 
qualed by  any  other  locality  in  the  State.  A charter  was 
granted  for  extending  the  Portland  and  Oxford  Central 
Road  to  it,  a distance  of  about  22  miles,  with  scarcely  an 
obstruction  to  the  construction  of  rails,  at  a minimum  cost. 

Sumner  has  its  water-power,  and  already  produces  no  in- 
considerable amount  of  manufactures ; also  a second  one, 
lower  down  on  the  river,  which  has  never  been  improved. 
Buckfield,  likewise,  has  its  water-fall  on  two  grades,  direct- 
ly in  the  village,  with  its  several  factories  and  mills  in 
operation,  and  is  capable  of  large  extension.  It  is  a thriving 
business  place  and  the  center  of  a large  trade  from  surround- 
ing towns.  West  Minot,  also,  has  its  water-power,  in  the 
immediate  vicinity  of  the  railroad,  which  is  more  or  less 
improved  at  the  present  time.  The  region  of  this  road  also 
produces  large  amounts  of  hops,  wool,  cattle  and  horses, 
furnishing  much  railroad  traffic,  and  in  all  these  demands  will 
be  constantly  on  the  increase.  The  road  became  embarrassed 
in  a premature  effort  to  extend  it  to  Canton  Village,  before 
the  aid  of  the  several  towns,  so  dependant  for  their  prosperi- 
ty, had  been  secured,  as  authorized  by  law.  The  conse- 
quences were,  imperfect  completion,  and  neglected  repairs. 

The  gauge  of  the  road  has  not  been  changed  from  its 
original,  of  five  feet  and  six  inches,  and  will  involve  the 
necessity  of  a change  to  four  feet  eight  and  a half  inches,  to 
conform  to  that  of  the  Grand  Trunk,  or  to  the  narrow  gauge 
of  three  feet,  which  is  very  generally  recommended  as  a 
matter  of  economy  in  the  change,  and  in  the  subsequent 


Ill 


operation  of  the  road.  Such  is  the  character  of  the  road’s 
property  and  bed,  at  the  point  of  its  junction  with  the  Grand 
Trunk,  that  all  transhipments  in  bulk  from  the  Grand  Trunk 
to  this  road,  and  vice  versa , can  be  effected  at  a cost  of  not 
two  mills  to  the  ton.  An  entirely  responsible  party  proposes 
to  reduce  the  gauge  to  three  feet,  put  the  road  in  repair, 
embankments,  ties,  bridges,  culverts,  ditches  and  ballasting, 
in  all  respects  to  the  acceptance  of  the  State  Railroad  Com- 
missioners, and  substitute  two  narrow  gauge  locomotives, 
two  passenger  cars,  twp  baggage  cars,  twelve  flat  cars  and 
four  box  cars,  in  exchange  for  the  present  equipments,  and 
the  sum  of  forty  thousand  dollars . The  iron  is  in  condition 
throughout  the  line  to  compare  in  weight  and  soundness 
with  that  of  a majority  of  the  roads  in  the  State,  and  it  is 
estimated  by  competent  judges  that  the  cost  of  passenger 
and  freight  transportation  over  the  road  will  not  exceed, 
on  a three  foot  gauge,  fifty  per  cent,  of  the  cost  for  the  same 
services  on  a broad  gauge,  and  all  persons  who  have  be- 
come acquainted  with  .the  character  of  the  country  through  . 
which  the  road  extends,  including  successive  annual  reports 
of  the  State  Railroad  Commissioners,  concur  in  the  opinion 
that  the  road,  properly  repaired  and  managed,  would  be  self- 
sustaining,  if  not  remunerative. 

We  have  discretionary  power  for  eighty  days  to  sell  abso- 
lutely, or  lease  the  Road.  The  face  of  the  bonded  debt  is 
$242,000,  and  we  propose  to  sell  the  whole  property  per- 
taining to  the  Road  for  that  sum,  on  liberal  terms  of  pay- 
ment beyond  an  amount  of  $50,000 — a sum  below  $9,000, 
while  the  actual  cost  exceeded  $15,000  per  mile.  Or,  we 
will  sell  the  same  for  cash  at  the  valuation  of  three  com- 
petent and  impartial  railroad  engineers,  resident  beyond  the 
limits  of  the  State,  to  be  agreed  on  by  the  parties.  Or  we 
will  lease  the  Road  for  a long  term  of  years  to  responsible 
parties,  at  six  per  cent  interest  per  annum,  on  a just  sum, 
payable  semi-annually,  the  lessees  undertaking  to  expend 


IV 


whatever  sum  is  needful  to  repair  and  equip  the  road,  to 
the  acceptance  of  the  Rail  Road  Commissioners  on  either 
gauge  named. 

The  copy  of  the  record  of  sundry  meetings  holden  by  the 
Stockholders  and  Rond  and  Coupon  holders,  which  is  append- 
ed hereto,  will  illustrate  the  title  to  be  given  as  valid  and 
effectual  in  la^w  for  all  parties. 

Parties  desirous  of  negotiating  for  the  Road,  will  please 
address 

EZRA  CARTER, 

JOHN  W LANE, 

Mortgage  Trustees  of  the  P.  $ 0.  C,  R.  R.  Co. 

Portland,  June  1,  1875. 


COPY 


From  the  Eecords  of  the  Portland  and  Ox- 
ford Central  Pail  Poad  Company. 


NOTICE. 

By  order  of  the  Directors,  the  Stockholders  of  the  Port- 
land and  Oxford  Central  Rail  Road  Company  are  notified 
to  meet  at  the  United  States  Hotel,  in  Portland,  on  the 
nineteenth  day  of  April,  1875,  at  three  o’clock  P.  M. 

1st.  To  determine  what  measures  shall  be  adopted  for 
the  release  of  the  corporation  from  further  liability  on  its 
mortgage,  mortgage  bonds  and  coupons,  overdue,^  and  by  a 
sale  or  otherwise  of  the  corporation  property. 

.2d.  To  transact  any  other  business  that  may  legally 
come  before  the  meeting ; and  by  order  of  the  Directors, 
the  owners  and  holders  of  said  bonds  and  coupons  are  noti- 
fied and  requested  to  meet  at  the  U.  S.  Hotel,  in  Portland, 
on  vthe  twentieth  day  of  April  next,  at  10  o’clock  A.  M.,  to 
act  on  any  propositions  that  may  be  made  by  the  corporation, 
for  a disposition  of  the  corporation  property  and  adjustment 
of  said  mortgage  bonds. 

F.  B.  Smith, 

President  Portland  and  Oxford  Central  R.  R.  Company. 

March  30,  1875. 


r 


2 


Pursuant  to  the  above  notice,  published  daily  in  the  Port- 
land Advertiser,  a newspaper  printed  in  the  city  of  Portland, 
from  the  date  of  the  notice  until  the  day  of  the  meeting 
therein  notified,  and  also  in  the  Oxford  Register,  a news- 
paper published  at  Paris,  in  the  County  of  Oxford,  for  two 
successive  weeks  prior  to  the  day  of  said  meeting,  the  stock- 
holders of  the  Portland  and  Oxford  Central  Rail  Road  met 
at  the  United  States  Hotel,  in  the  city  of  Portland,  at  three 
o’clock  in  the  afternoon,  when  eleven  hundred  and  thirty- 
four  shares  of  the  capital  stock  of  said  company  were  rep- 
resented. 

The  President  of  the  company,  F.  B.  Smith,  Esq.,  called 
the  meeting  to  order,  and  read  said  notice.  On  representa- 
tions made  by  the  President,  of  the  financial  condition  of  the 
company,  the  following  Preamble  and  Resolution  offered  by 
Hon.  F.  O.  J.  Smith,  was  submitted,  and  on  discussion 
thereof,  the  following  Preamble  and  votes  were  unanimous- 
ly passed,  to  wit  z 

Whereas , It  is  manifest  to  the  stockholders  of  the  Portland 
and  Oxford  Central  Railroad  Company,  that  this  corporation 
is  hopelessly  unable  to  redeem  its  property,  heretofore  mort- 
gaged in  trust  to  Allen  Haines,  Ezra  Carter,  Jr.,  and  John 
W.  Lane,  by  deed  dated  May  20th,  1863,  as  of  record  will 
appear,  to  secure  the  payment  of  $240,000  of  bonds  issued 
of  the  same  date,  with  interest  \ coupons  annexed,  all  of 
which  bonds  and  most  of  said  coupons  are  now,  and  were 
long  since,  overdue  and  remain  unpaid, 

And  Whereas , A right  to  redeem  the  property  so  mortgaged 
is  secured  to  said  corporation  in  said  mortgage,  in  case  of 
sale  of  the  mortgaged  premises  by  said  Trustees,  for  condi- 
tion broken,  and  is  secured,  also,  by  law,  in  case  said  mort- 
gaged property  were  taken  by  said  Trustees  for  the  purposes 
of  foreclosure : 

And  Whereas,  The  said  corporation  has  no  available  means 
to  repair  said  road  for  safe  use  in  passenger  and  freight 


traffic,  and  the  same  is  unused  and  rapidly  depreciating  in 
value  by  non-user  and  decay,  and  to  the  detriment  of  public 
and  private  interests  : 

Now  therefore,  in  order  to  free  said  corporation  and  its 
property  from  all  further  liability  on  said  mortgage  bonds 
and  coupons,  and  to  enable  the  holders  of  the  said  bonds 
and  coupons  to  make  available  by  repairs  and  use,  or  other 
disposition  of  said  property,  in  the  ratio  of  their  respective 
interests  therein,  and  to  render  said  property  unincumbered 
by  debt  in  the  hands  of  said  holder,  the  stockholders  afore- 
said, upon  due  consideration,  and  for  the  promotion  of  both 
public  and  individual  interest  in  the  premises,  hereby  and 
herein  vote  and  declare  their  decision,  as  follows : 

That  the  President  and  Treasurer  of  the  corporation,  be 
and  hereby  are" authorized,  and  fully  empowered,  in  consider- 
ation of  the  facts  above  expressed,  with  the  concurrence 
herein,  and  acceptance  in  writing  by  a majority  in  amount 
of  the  holders  of  said  bonds  and  coupons,  to  release,  quit^ 
claim,  transfer  and  convey  forever,  in  the  name  and  behalf, 
and  under  the  seal  of  said  corporation,  and  by  suitable  deed 
to  said  Trustees  to  be  held  by  them  in  trust,  and  for  the 
possession,  use  and  benefit  of  all  said  holders  of  said  bonds 
and  coupons,  in  the  ratio  of  their  respective  interests,  all 
of  said  mortgaged  premises  as  expressed  and  described  in 
said  mortgage,  and  including  the  corporate  franchise ; the 
same  to  be  owned,  possessed  and  used  or  absolutely  disposed 
of  by  said  bond  and  coupon  holders,  as  fully  and  completely 
as  said  corporation  might,  or  could  lawfully  do,  had  no  such 
mortgage  and  bonds  and  coupons  ever  existed  ; and  through 
the  discretion  and  option  of  said  owners  and  holders  of  said 
bonds 'and  coupons,  and  upon  such  terms  and  for  such  con- 
sideration as  shall  to  them  seem  fit.  And  said  Trustees  shall 
thenceforth,  and  hereby  are  authorized  and  fully  empowered 
to  conform  their  acts  and  doings  in  the  premises,  to  the 
orders  and  directions  of  said  owners  and  holders  of  said  bond 


4 


and  coupons,  as  the  same  from  time  to  time  shall  be  given, 
and  so  far  as  said  stockholders  and  corporation  are  con- 
cerned, to  sign  and  execute  in  their  behalf  all  needful  in- 
struments for  carrying  into  effect  the  intentions  of  this  vote 
and  the  directions  of  said  bond  holders ; and  all  votes  here- 
tofore passed  by  said  corporation  in  respect  to  said  mortgage 
bonds  and  coupons  are  hereby  amended,  altered  and  abro- 
gated, so  far  as  needful,  to  fully  conform  to  these  presents 
in  all  respects. 

Voted , Tnat  the  aforesaid  contemplated  union  in  said 
Trustees  of  the  title  in  equity  of  said  corporation  to  redeem 
said  property  from  the  lien  created  by  said  mortgage,  with 
the  title  thereto  of  said  Trustees  as  mortgagees  for  said 
bond  and  coupon  holders,  shall  not  be  deemed  or  construed 
as  a discharge  and  payment  of  said  mortgage  bonds  and 
coupons,  nor  as  an  extinguishment  of  said  corporate  right  in 
equity  of  redemption,  but  the  same,  and  each,  shall  be  held 
and  considered  valid  and  subsisting  in  said  Trustees,  at  the 
option  of  said  bond  and  coupon  holders,  for  the  purposes  of 
a sale,  or  of  a judicial  foreclosure  of  said  estate  at  the  option 
of  said  bond  holders,  acting  through  and  by  said  Trustees, 
and  as  provided  in  said  mortgage. 

Voted , That  this  meeting  stand  adjourned  until  Monday, 
May  3,  A.  d.,  1875,  at  3 o’clock  p.  m.,  at  the  United  States 
Hotel  in  Portland. 

Attest:  Benjamin  F.  Chadbourn,  Clerk. 


U.  S.  Hotel,  Portland,  May  3,  1875. 

The  stockholders  of  the  Portland  and  Oxford  Central  R. 
R.  Co.  met  according  to  adjournment. 

The  President  presented  and  read  the  votes  passed  by  the 
holders  of  the  mortgage  bonds  and  coupons,  at  a meeting 
holden  by  them  at  this  place  on  the  afternoon  of  the  20th 


5 


day  of  April,  1875,  and  the  same  were  accepted  as  satisfacto- 
ry to  the  stockholders. 

In  order  to  await  the  further  action  of  the  bond  holders, 
it  was 

Voted , That  this  meeting  stand  adjourned  to  this  place, 
until  the  17th  day  of  May  current,  at  8 o’clock  in  the  after- 
noon. 

Attest:  Benjamin  F.  Chadbourn,  Clerk. 

c < 


MORTGAGE. 

Record  of  the  Bond  and  Coupon  Holders  of  the 
Portland  and  Oxford  Central  Railroad. 

[Same  notice  as  of  stockholders’  meeting.] 

Pursuant  to  the  above  notice,  published  daily  in  the 
Portland  Advertiser,  a newspaper  printed  in  the  city  of 
Portland,  from  the  date  of  said  notice  until  the  day  of  this 
meeting,  and  in  the  Oxford  Register,  a weekly  paper  pub- 
lished in  Paris,  in  the  County  of  Oxford,  for  two  successive 
weeks  prior  to  this  meeting,  and  the  holders  of  said  bonds 
and  coupons  to  an  amount  in  interest  of  $220,000,  met  at 
the  U.  S.  Hotel,  in  Portland,  on  the  twentieth  day  of  April, 
A.  D.  1875,  at  three  o’clock  p.  m.,  and  organized  a meeting 
by  the  appointment  of  Hon.  F..  O.  J.  Smith  as  Chairman, 
and  of  Benjamin  F.  Chadbourn,  Esq.,  as  Secretary.  Where- 
upon, it  was 

Voted  unanimously,  To  consent  to  and  accept  the  proposi- 
tion contained  in  the  following  preamble  and  vote  of  the 
stockholders  of  the  Portland  and  Oxford  Central  Railroad 
Company,  holden  on  the  nineteenth  day  of  April  current, 
pursuant  to  the  aforesaid  notice,  to  wit : 


6 


“ J Vhereas,  It  is  manifest  to  the  stockholders  of  the  Port- 
land and  Oxford  Central  Railroad  Company,  that  this  cor- 
poration is  hopelessly  unable  to  redeem  its  property  hereto- 
fore mortgaged  in  trust  to  Allen  Haines,  Ezra  Carter,  Jr., 
Ofiid  John  W.  Lane,  by  and  dated  May  20, 1863,  as  of  record 
will  appear,  to  secure  the  payment  of  $240,000  of  bonds 
issued  of  the  same  date,  with  interest  coupons  annexed, 
all  of  which  bonds  and  most  of  said  coupons  are  now,  and 
were  long  since  overdue,  and  remain  unpaid. 

“ And  Whereas,  A right  to  redeem  the  property  so  mort- 
gaged is  secured  to  said  corporation  in  said  mortgage,  in 
case  of  sale  of  the  mortgaged  premises  by  said  Trustees  for 
condition  broken,  and  is  secured  also  by  law  in  case  said 
mortgaged  property  were  taken  by  said  Trustees  for  the 
purposes  of  foreclosure. 

“ And  Whereas , The  said  corporation  has  no  available 
means  to  repair  said  road  for  safe  use  in  passenger  and 
freight  traffic,  and  the  same  is  unused  and  rapidly  depreciat- 
ing in  value  by  non-user  and  decay,  and  to  the  detriment 
of  public  and  private  interests. 

“Now  therefore,  in  order  to  free  said  corporation  and  its 
property  from  all  further  liability  on  said  mortgage  bonds 
and  coupons,  and  to  enable  the  holders  of  the  said  bonds 
and  coupons  to  make  available  by  repairs  and  use,  or  other 
disposition  of  said  property,  in  the  ratio  of  their  respective 
interests  therein,  and  to  render  said  property  unencumbered 
by  debt  in  the  hands  of  said  holders,  the  stockholders  afore- 
said upon  due  consideration,  and  for  the  promotion  of 
both  public  and  individual  interest  in  the  premises,  hereby 
and  herein  vote  and  declare  their  decision  as  follows : 

That  the  President  and  Treasurer  of  the  corporation  be, 
and  hereby  are,  authorized  and  fully  empowered,  in  consid- 
eration of  the  facts  above  expressed,  with  the  concurrence 
herein  and  acceptance  in  writing  by  a majority  in  amount 
of  the  holders  of  said  bonds  and  coupons,  to  release,  quit- 


7 


claim,  transfer,  convey  forever  in  the  name  and, behalf,  and 
under  the  seal  of  said  corporation,  and  by  suitable  deed  to 
said  Trustees,  to  be  held  by  them  in  trust,  and  for  the  pos- 
session, use  and  benefit  of  all  said  holders  of  said  bonds 
and  coupons  in  the  ratio  of  their  respective  interests,  all  of 
said  mortgaged  premises  as  expressed  and  described  in  said 
mortgage,  and  including  the  coporate  franchise,  the  same  to 
be  owned,  possessed  and  used,  or  absolutely  disposed  of  by  the 
said  bond  and  coupon  holders,  as  fully  and  completely  as 

I . If  7^  I I ' '>  KJ 

said  corporation  might  or  could  lawfully  do,  had  no  such 
mortgage  and  bonds  and  coupons  ever  existed,  and  through 
said  Trustees,  and’at  the  discretion  and  option  of  said  owners 
and  holders  of  said  bonds  and  coupons,  and  upon  such  terms 
and  for  such  consideration  as  shall  to  them  seem  fit ; and 
said  Trustees  shall  thenceforth  and  hereby  are,  authorized 
and  fully  empowered  to  conform  their  acts  and  doings  in  the 
premises,  to  the  orders  and  directions  of  said  owners  and 
holders  of  said  bonds  and  coupons,  as  the  same  from  time  to 
time  shall  be  given,  and  so  far  as  said  stockholders  and  cor- 
poration are  concerned,  to  sign  and  execute  in  their  behalf 
all  needful  instruments  for  carrying  into  effect  the  inten- 
tions of  this  vote  and  the  directions  of  said  bond  holders ; 
and  all  votes  heretofore  passed  by  said  corporation,  in  re- 
spect to  said  mortgage  bonds  and  coupons,  are  hereby  amend- 
ed, altered  and  abrogated  so  far  as  needful  to  fully  conform 
to  these  presents  in  all  respects. 

Voted , That  the  aforesaid  contemplated  union  in  said 
Trustees,  of  the  title  in  equity  of  said  corporation  to  redeem 
said  property  from  the  lien  created  by  said  mortgage,  with 
the  title  thereto  of  said  Trustees  as  mortgagees  of  said  bond 
and  coupon  holders,  shall  not  be  deemed  or  construed  as  a 
discharge  and  payment  of  said  mortgage  bonds  and  coupons, 
nor  as  an  extinguishment  of  said  corporate  right  in  equity 
of  redemption,  but  the  same  and  each  shall  be  held  and  con- 
sidered valid  and  subsisting  in  said  Trustees  at  the  option 

i 


8 


of  said  bond  and  coupon  holders  for  the  purposes  of  a sale, 
or  of  a judicial  foreclosure  of  said  estate,  at  the  option  of 
said  bond  holders,  acting  through  and  by  said  Trustees,  and 
as  provided  in  said  mortgage. 

Voted , That  the  Trustees  named  in  said  bonds  be  re- 
quested to  receive,  for  and  in  behalf  of  said  bond  and  coupon 
holders,  the  proposed  conveyance,  deed  and  title  of  said  cor- 
porate right  in  equity  to  redeem  said  mortgage  premises, 
and  upon  the  terms  and  conditions,  and  for  the  purposes 
which  in  the  aforesaid  vote  of  stockholders  are  expressed. 

Voted , That  this  meeting  stand  adjourned  at  this  place, 
until  Tuesday,  May  4,  1875,  at  3 o’clock  P.  M. 

Attest;  B.  F.  Chadbourn,  Clerk . 


U.  S.  Hotel,  Portland,  May  4,  1875. 

The  mortgage  bond  holders  of  the  P.  & O.  C.  R.  R.  Com- 
pany met  according  to  adjournment,  and  the  record  of  the 
last  meeting  was  read.  Thereupon  it  was 

Voted , That  a committee  consisting  of  the  chairman  and 
Sullivan  C.  Andrews  and  Bion  Bradbury  be  appointed  to 
act  in  conjunction  with  a committee  of  three  persons,  to  be 
appointed  by  the  stockholders,  to  draft  and  present  to  the 
President  and  Treasurer  of  the  corporation  for  signature  and 
execution,  the  necessary  conveyance  and  any  other  instru- 
ments deemed  necessary  to  carry  into  full  effect  the  votes  of 
the  stockholders  and  bondholders  at  their  respective  meet- 
ings holden  on  the  19th  and  20th  of  April  last,  and  with 
authority  to  deliver  any  such  conveyance  and  other  instru- 
ments that  may  be  so  executed  to  the  Trustees  named  in  the 
aforesaid  mortgage. 

Voted , That  the  meeting  stand  adjourned  to  Monday, 
May  17,  1875,  at  3 p.  m.,  at  U.  S.  Hotel. 

Attest:  B.  F.  Chadbourn,  Clerk. 


9 


STOCKHOLDERS’  MEETING. 

U.  S.  Hotel,  Portland,  May  17,  1875. 

The  stockholders  met  according  to  adjournment. 

The  vote  of  the  bond  and  coupon  holders,  passed  on  the 
4th  inst.,  was  communicated  by  the  President  in  the  words 
following : 

[See  vote  in  Bondholders’  record  of  May  4th,  ante , p.  5.] 

Whereupon,  it  was 

Voted , That  this  meeting  concur  with  the  bond  and 
coupon  holders  in  the  above  vote,  and  in  the  appointed 
meeting  of  the  committee  therein  mentioned,  and  that  the 
President  communicate  this  vote  to  the  meeting  of  the  bond 
and  coupon  holders,  holden  on  this  day. 

Voted , That  this  meeting  stand  adjourned  to  this  place, 
until  three  o’clock  P.  m.,  on  the  22d  of  the  current  month. 

Attest : B.  F.  CHADBOURNE,  Clerk. 


U.  S.  Hotel,  Portland,  May  22,  1875. 

The  Stockholders  of  the  Portland  & Oxford  Central 
Railroad  Company  met  according  to  adjournment. 

Voted , That,  to  avoid  delay  from  the  absence  of  the 
Treasurer  of  the  corporation,  in  the  execution  of  the  con- 
veyance or  other  instruments,  to  carry  into  effect  the  vote 
of  this  meeting  holden  on  the  19th  day  of  April  last  past, 
and  subsequent  votes  of  the  stockholders,  and  of  the  holders 
of  mortgage  bonds  and  coupons  responsive  thereto,  the  said 
vote  of  April  19th  be  so  far  amended  and  modified  as  to 
substitute  for  the  Treasurer,  the  Clerk  of  the  corporation, 
with  full  power  to  join  with  the  President  of  the  corpora- 
tion in  the  execution  of  said  conveyance,  or  other  instru- 
ments contemplated  for  and  in  behalf  of  the  corporation, 


10 


and  such  instrument,  when  executed  as  above  provided, 
shall  be  valid  to  all  intents  and  purposes. 

Voted , To  adjourn  to  this  place  until  Saturday,  May  the 
29th  of  the  current  month,  at  three  o’clock  P.  M. 

Attest:  B.  F.  CHADBOUKNE,  Cleric . 


U.  S.  Hotel,  Portland,  May  29,  1875. 
The  Stockholders  met  according  to  adjournment.  And 
to  await  the  report  of  the  committee  on  conveyances,  it  was 
Voted , That  this  meeting  stand  adjourned  to  this  place, 
until  Tuesday  next,  at  three  o’clock  P.  M. 

B.  F.  CHADBOUKNE,  Cleric. 


U.  S.  Hotel,  Portland,  June  1,  1875. 

The  Stockholders  met  according  to  adjournment.  The 
committee  appointed  to  draft  the  needful  conveyance  to 
carry  into  full  effect  the  votes  of  the  stockholders,  to  convey 
the  franchise  and  mortgaged  property  of  the  corporation  to 
the  Trustees  of  the  bond  and  coupon  holders,  reported 
through  the  President  of  the  company,  as  is  given  below; 
and  pursuant  to  the  power  vested  in  the  President  and  Sec- 
retary of  the  corporation,  the  President  reported,  that  he  and 
the  Secretary  of  the  corporation,  in  their  respective  capaci- 
ties, had  executed  the  said  conveyance  to  the  said  Trustees, 
and  delivered  the  same,  with  said  committee’s  report,  to  the 
chairman  of  the  bond  and  coupon  holder’s  meeting  for  their 
acceptance,  and  delivery  to  the  mortgage  Trustees,  in  con- 
summation of  the  votes  passed  by  each  party. 


11 


Repoet  of  Committee. 

Portland,  May  31,  1875. 

To  the  Stockholders  and  Mortgage  bond  and  coupon 
holders  of  the  Portland  and  Oxford  Central  Rail  Road  Com- 
pany : 

Gentlemen  : By  the  votes  of  your  respective  meetings, 

as  of  record  appears,  the  undersigned  were  appointed  a com- 
mittee to  draft  and  present  to  the  President  and  Treasurer 
of  the  above  corporation  for  signature  and  execution,  the 
necessary  conveyance  and  any  other  instrument  deemed 
necessary  to  carry  into  full  effect  the  votes  of  the  stock- 
holders and  bond  and  coupon  holders  at  their  respective 
meetings  holden  on  the  19th  and  20th  of  April  last. 

W e have  carefully  examined  the  votes  of  your  respective 
meetings  on  the  subject  of  transferring  the  franchise  and 
rights  of  said  company  to  redeem  the  mortgaged  premises 
described  in  the  company’s  mortgage,  and  submit  the  accom- 
panying draft  of  a conveyance,  which,  in  our  opinion,  will 
legally  and  effectually  carry  into  execution  the  meaning  and 
intentions  of  the  said  votes  of  each  party,  when  duly  signed 
and  delivered  to  the  Trustees  mentioned  in  the  mortgage. 
The  paper  submitted  is  identified  by  our  respective  signa- 
tures on  the  margin  thereof. 

Very  respectfully,  your  obedient  servants, 

FRANCIS  O.  J.  SMITH, 

S.  C.  ANDREWS, 

BION  BRADBURY. 


Copy  of  Deed,  Executed. 

Be  it  known  to  all  men  by  these  presents , That  we,  Fbancis 
B.  Smith,  President  of  the  Portland  and  Oxford  Central 
Railroad  Company,  and  Benjamin  F.  Chadbourne,  Clerk 


V 


12 

of  said  Company,  a corporation  existing  under  the  laws  of 
the  State  of  Maine,  by  virtue  and  in  pursuance  of  a vote 
passed  by  the  stockholders  of  said  company,  duly  notified 
and  holden  at  Portland,  at  the  United  States  Hotel,  on  the 
nineteenth  day  of  April,  A.  D.  1875,  and  in  pursuance  of  sub- 
sequently passed  votes  by  said  stockholders,  as  of  record  will 
appear,  for  and  in  behalf  of  said  corporation,  in  its  own 
rights,  and  for  the  considerations  and  purposes  in  said  votes 
mentioned,  do  hereby  release,  quit-claim,  transfer  and  con- 
vey forever,  to  Allen  Haines,  Ezra  Carter  and  John  W. 
Lane,  in  their  capacity  as  Trustees,  to  hold  and  possess  the 
same  for  the  several  bond  and  coupon  holders,  in  ratio  of 
their  respective  interests,  and  as  described  in  a certain  deed 
of  mortgage,  executed  to  said  grantees  by  said  corporation, 
bearing  date  the  twentieth  day  of  May,  A.  D.  1868,  and  duly 
recorded  in  the  Registry  of  Cumberland,  and  in  the  Registry 
of  Oxford  Counties,  all  of  said  mortgaged  premises,  as  ex- 
pressed and  described  in  said  mortgage,  including  the  corpo- 
rate franchise  of  said  company,  the  same  to  be  owned, 
possessed  and  used,  or  absolutely  disposed  of  by  said  bond 
and  coupon  holders,  and  by  and  through  said  Trustees,  as 
fully  and  completely  as  said  corporation  might  or  could  law- 
fully do,  had  no  such  mortgage  and  bonds  and  coupons  at 
any  time  existed,  and  upon  such  terms  and  for  such  consid- 
eration as  shall  to  them  seem  fit. 

And  said  Trustees  shall  henceforth,  and  hereby  are 
authorized  and  fully  empowered  to  conform  their  acts  and 
doings  in  the  premises,  to  the  order  and  directions  of  said 
owners  and  holders  of  said  bonds  and  coupons,  as  the  same 
shall  from  time  to  time  be  given  ; and  this  conveyance  is 
made  on  the  condition,  and  it  is  the  provision  and  the  mean- 
ing of  the  union,  by  these  presents,  in  said  Trustees,  of  the 
title  in  equity  of  said  corporation  to  redeem  said  property 
lien,  created  by  said  mortgage,  with  the  title  thereto  of  said 
Trustees,  as  mortgagees  for  said  bond  and  coupon  holders, 


13 


that  the  same  shall  not  be  deemed  and  construed  as  a dis- 
charge and  payment  of  said  mortgage  bonds  and  coupons, 
nor  as  an  extinguishment  of  said  right  of  equity  of  redemp- 
tion so  transferred ; but  the  same  and  each  shall  be  held  and 
considered  valid,  and  subsisting  in  said  Trustees,  for  said 
bond  and  coupon  holders,  and  at  the  option  of  said  bond  and 
coupon  holders,  for  the  purposes  of  a sale  or  of  a judicial 
foreclosure  of  said  estate,  acting  by  and  through  said 
Trustees. 

To  have  and  to  hold  the  said  premises,  with  all  the  rights, 
privileges,  appurtenances  and  immunities  thereto  belonging, 
to  the  said  grantees,  in  their  capacity  of  Trustees  aforesaid, 
and  their  successors,  assigns  and  beneficiaries  forever,  in 
the  same  manner  and  with  the  same  powers  as  are  accorded 
to  them  in  and  by  the  original  deed  appointing  said  Trustees. 

In  testimony  whereof,  I,  the  said  Francis  B.  Smith, 
acting  for  and  in  behalf  of  said  corporation,  as  President 
thereof,  and  I,  the  said  Benjamin  F.  Chadbourne,  acting 
for  and  in  behalf  of  said  corporation,  and  as  Clerk  thereof, 
each  and  by  virtue  of  the  powers  hereinbefore  described, 
have  hereunto  set  our  respective  hands  and  the  Seal  of  said 
corporation,  on  this  first  day  of  June,  A.  d.  18T5. 

FRANCIS  B.  SMITH, 

President  of  the  Portland  and  Oxford  Central  R . R . 

BENJAMIN  F.  CHADBOURNE, 

[Corporation  Seal.]  Clerk  of  the  P . $ 0.  C.  R.  R. 

Signed,  sealed  find  delivered  in  presence  of 

Francis  O.  J.  Smith, 

Edward  Mason. 

STATE  OF  MAINE, 

Cumberland,  ss.  June  1,  1875. 

Then  personally  appeared  the  above  named  Francis  B. 
Smith  and  Benjamin  F.  Chadbourne,  in  their  respective  capac- 


14 


ities  of  President  and  Clerk  of  the  Portland  and  Oxford 
Central  R.  R.  Corporation,  and  in  behalf  of  the  corporation 
acknowledged  the  above  instrument  to  be  their  free  act  and 
deed.  Before  me, 

[Notary  Seal.]  A.  W.  BRADBURY, 

Justice  of  the  Peace  and  Notary  Public. 

Whereupon  it  was  voted,  that  the  property  so  conveyed 
be  delivered  to  the  Trustees  of  the  bond  and  coupon  holders, 
to  be  possessed  and  disposed  of  in  the  future,  according  to  the 
pleasure  and  direction  of  said  bond  and  coupon  holders, 
through  their  said  Trustees. 

Voted , That  this  meeting  be  now  dissolved. 

Attest : BENJ.  F.  CHADBOURNE,  Clerk. 


BOND  AND  COUPON  HOLDERS’  RECORD. 

U.  S.  Hotel,  Portland,  May  17,  1875. 

The  bond  and  coupon  holders  meLaccording  to  adjourn- 
ment. 

The  Chairman  communicated  a vote  of  the  stockholder^, 
passed  this  day,  concurring  in  the  vote  of  this  meeting,  holden 
on  the  4th  instant,  appointing  the  Chairman,  Sullivan  C. 
Andrews  and  Bion  Bradbury,  a committee  to  draft  the 
necessary  conveyance,  and  any  other  instrument  deemed 
necessary  to  carry  into  full  effect  the  votes  of  the  stock- 
holders and  bond  and  coupon  holders,  passed  on  the  19th 
and  20th  of  April  last. 

Whereupon  it  was 

Voted,  That  this  meeting  stand  adjourned  until  the  22d 
of  the  current  month,  at  8 o’clock  p.  m.,  to  meet  a,t  this  place. 

Attest,  B.  F.  CHADBOURNE,  Clerk. 


% 


15 


U.  S.  Hotel,  Portland,  May  22d , 1875. 
The  bond  and  coupon  holders  met  according  to  adjourn- 
ment. No  business  was  transacted. 

Voted , That  this  meeting  stand  adjourned  at  this  place, 
at  3 o’clock  P.  M.,  on  Saturday  next. 

Attest,  B.  F.  CHADBOURNE,  Clerk 


U.  S.  Hotel,  Portland,  May  29,  1875,  3 p.  M. 

The  bond  and  coupon  holders  met  according  to  adjourn- 
ment. 

The  committee  appointed  to  draft  needful  conveyances 
to  carry  into  effect  the  votes  of  the  stockholders,  not  having 
reported,  it  was 

Voted , That  this  meeting  stand  adjourned  until  Tuesday 
next,  at  3 o’clock  p.  M.,  at  this  place. 

Attest,  B.  F.  CHADBOURNE,  Clerk 


U.  S.  Hotel,  Portland,  June  1,  1875. 

The  bond  and  coupon  holders  met  according  to  adjourn- 
ment. 

The  Chairman  reported  that  he  had  received  from  the 
President  of  the  corporation,  the  following  report  of  the 
committee  appointed  * to  draft  the  needful  conveyances  to 
carry  into  full  effect  of  the  votes  passed  by  the  stockholders, 
to  wit : 

- [See  Report  and  Deed,  ante  p.  11.] 

The  Chairman  also  reported,  that  he  had  received  from 
the  President  of  the  corporation  the  following  deed  of  con- 


16 


veyance,  as  drafted  and  submitted  by  the  above  named  com- 
mittee, and  duly  executed,  pursuant  to  the  votes  of  the 
stockholders,  by  the  President  and  Clerk  of  the  corporation, 
subjecting  the  mortgaged  property  henceforth  to  the  abso- 
lute disposal  of  the  bond  and  coupon  holders,  through  said 
Trustees ; and  of  which  conveyance  the  following  is  a true 
copy,  to  wit : 

[See  Deed,  ante  p.  11.] 

Voted , That  said  deed  be  accepted,  and  caused  to  be  re- 
corded in  Registries  of  Oxford  and  Sagadahock  Counties, 
and  delivered  to  the  Trustees. 

Voted , That  the  Chairman  of  this  meeting,  in  behalf  of 
the  bond  and  coupon  holders,  cause  100  copies  of  the  records 
of  the  several  meetings  of  the  stockholders  and  bond  and 
coupon  holders,  respectively,  holden  on  and  since  the  19th 
of  'April  last,  to  be  printed  in  pamphlet  form,  for  the  use  of 
the  bond  and  coupon  holders ; and  that  the  Trustees  be  re- 
quested to  preface  the  same  with  such  information  respect- 
ing the  mortgaged  property,  and  such  offer  for  a sale  or 
lease  of  the  same  for  a term  of  years,  as  they  shall  deem  ex- 
pedient for  the  best  interests  of  all  persons  concerned,  with 
full  power  to  carry  into  complete  effect,  by  contract  or  con- 
veyance in  writing,  in  behalf  of  the  bond  and  coupon  holders, 
any  contract  of  sale,  or  lease,  which  they  shall  determine 
within  the  next  eighty  days. 

Voted , That  this  meeting  now  stand  adjourned  to  reas- 
semble on  the  published  notice  of  the  Chairman  for  seven 
days  in  any  daily  newspaper  published  in  the  city  of  Port- 
land. 

Attest,  * B.  F.  CHADBOURNE,  Clerk. 

K i 


BERRY,  PRINTER,  PORTLAND. 


